The Liberia Revenue Authority (LRA) Commissioner General designate, Thomas Doe Nah has informed the Liberian Senate Committee on Ways, Means Finance and Budget that he aspires to move the country’s revenue to a billion United States Dollars.
“So far, we have reached 50.2 percent of revenue target as of June 30. The LRA under my leadership is pushed harder to increase revenue collection to beat the 2021 record of more than US$579 million,” he said.
However, the disclosure from Mr. Doe Nah who is also the LRA current Commissioner General comes as his administration between 2018 and 2021 collected aggregate domestic revenue of US$1.954 billion. This amount is well above the USS$1.796 billion collected in the previous four years (2014-2017), according to the LRA.
“At the same time, the compound annual growth rate for the last four years was 8.3% compared to the 0% realized between 2014 and 2017. The digital revolution is one of those inspiring forces for growth and the LRA does not seem to be stopping as it moves towards the annual billions mark,” he stressed.
According to him, the last five years have witnessed massive migration from manual tax payment to automated processes thus creating convenience for taxpayers, ensuring revenue protections and increasing domestic resource mobilization.
The LRA boss further informed the Senators during his confirmation hearing that the revenue collector is pushing harder to increase revenue collection by more than US$579 million, noting, “With revenue projection at US$809.5million, with domestic revenue of US$649.5million of this amount, the LRA is on the right path with domestic revenue collections and might surpass it.”
“So far, we have reached 50.2 percent of revenue target as of June 30. The LRA under my leadership is pushed harder to increase revenue collection to beat the 2021 record of more than US$579 million.”
Meanwhile, Mr. Nah has at the same time credited the LRA’s success in revenue growth to coordinated efforts geared towards building a robust digital ecosystem, curtailing abuse occasioned by smuggling and tax evasion, improving payment channels, and enhancing taxpayers’ engagements and capacity of staff at the entity.
“In the last four years, we have stabilized and increased revenue collection and helped stamp out substantial delays in public servants’ salaries and payments to vendors, at the same time noting that mobilization of more revenues has given the government the fiscal space to intervene in public services, community roads, and other activities.”
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